Advanced Energy Storage Market Industry Analysis and Forecast 2025

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Advanced Energy Storage Market - Global Industry
Insight, Trends, Outlook, and Opportunity
Analysis 2017-2025

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REPORT DESCRIPTION
Advanced Energy Storage Market Overview
Advanced Energy Storage (AES) systems involve the
capture of the required energy which is produced
at one time and can be used later. Energy is
stored via a variety of mediums. Advanced Energy
Storage technologies convert electricity into a
different form of energy which can be stored and
converted back into usable electricity at the
required time. Energy can be transported via
Advanced Energy Storage and stored using grids.
AES system is an evolving technology critical for
the growth of the energy sector in the 21st
century. The energy can be used in the
manufacture of various semiconductors, data
storage products, solar cells, and electricity.
The increasing demand for large amount of
renewable energy can be met with the help of AES.
It also allows operators manage the flow of
energy sources by supplying only the required
amount of energy thus avoiding the waste of
energy. AES can effectively help reduce the Green
House Gases and CO2 emissions, thus reducing
global warming. The various forms of energy that
can be stored via AES include chemical,
mechanical, thermal, electrical, electrochemical,
tidal, solar, and biological. The increasing
demand and investments in renewable sources of
energy along with various governmental
regulations supporting the use of renewable
energy is a major driver that augments the growth
of the global AES market. However, the lack of a
legislative and regulatory policy with regards to
AES is a major restraining factor that affects
the growth of the global AES market. The Assembly
Bill 2514 passed on June 3, 2010 by the
California State Assembly was accepted to create
a smarter, cleaner electric grid, and increasing
the use of renewable energy.
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REPORT DESCRIPTION
Lithium-ion batteries was the most dominant
segment in the global Advanced Energy Storage
system in 2016. The trend is expected to continue
during the forecast period. The reason for the
same is the technological advancements and the
growing use of lithium-ion batteries as a source
of energy to reduce energy costs. The increasing
use of lithium-ion batteries in electrically
powered vehicles is a major factor that is
expected to augment the growth of this segment
during the forecast period. Asia Pacific is
expected to be the most dominant region in the
global AES systems market during the forecast
period and is expected to grow at a fast rate
during the forecast period. The International
Energy Agency (IEA) estimates that by 2020,
emerging countries will need to double their
electrical power output to meet rising demand. It
is estimated that by 2035, these nations will
represent 80 percent of the total growth in both
energy production and consumption. Asia Pacific
is home to a number of emerging countries, thus,
boosting the demand for AES in this region. The
IEA estimates that Energy storage deployments in
emerging markets worldwide are expected to grow
over 40 annually in the coming decade, adding
approximately 80 GW of new storage capacity to
the estimated 2 GW existing today. The global
advanced energy storage systems market was valued
at US 11.79 billion in 2016 and is expected to
expand at a CAGR of 8.88 in terms of revenue
during 2017 2025. Request sample Copy of this
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REPORT DESCRIPTION
AES systems were mainly used in the
transportation segment in 2016. The increasing
adoption of electric vehicles is a major driver
that has resulted in the rising demand for AES
systems in the transportation sector. The
transportation sector accounted for 50.20 market
share in the AES systems market. According to the
International Energy Agency, over 750000 electric
car sales were recorded worldwide. This is
expected to positively boost the global AES
systems market. China and the U.S. are expected
to dominate the electric vehicle sales during the
forecast period. China is the leading consumer of
electric vehicles registering as many as 352,000
new electric vehicles in 2016. Multinational
players Some of the leading players in the AES
include ABB Ltd., LG Chem, Ltd., Samsung SDI Co.,
Ltd, General Electric Company, and Tesla Inc. To
Get Discount on this Report https//www.coherentm
arketinsights.com/insight/request-discount/746
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